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Jinduicheng Molybdenum Group Releases the 13th Five-Year Development Plan

Recently, Jinduicheng Molybdenum Group (JMG) issued the 13th Five-Year Development Plan (hereinafter referred to as the "Development Plan") The Development Plan proposes that the company generate an operating income of RMB 30 billion by the end of 2020 and build itself into a comprehensive mining group with international competitiveness.

The Development Plan looks back on JMG's development achievements during the 12th Five-Year Plan period and comprehensive analyzes the situation it faces during the 13th Five-Year Plan period from perspectives of the economic environment, policy environment, molybdenum industry environment and development advantages and disadvantages.

The Development Plan establishes the guiding development concepts of "innovation, coordination, green, open and sharing", highlights integrated development characterized by "industrial management, trade management and capital management" and proposes to strengthen the primary molybdenum industry through people orientation and innovation driving, cultivate and expand non-molybdenum industries, optimize the industry chain and product chain through quality and efficiency improvement, transformation and upgrading, improve asset operation efficiency and market competition ability and promote rapid, sustained and healthy development of JMG so as to achieve its vision of becoming better and stronger. The Development Plan lays down six cardinal principles: adhering to the combination of industrial management, capital management and trade management; adhering to the combination of coordinated development and efficiency first; adhering to the combination of market reform and differentiated development; adhering to the combination of innovation driving and management improvement; adhering to the combination of aggressiveness and risk control; adhering to the combination of green development and improvement of people's livelihood.

The Development Plan defines the company's strategic position during the 13th Five-Year Plan period: to build a comprehensive mining group with international competitiveness that leads the molybdenum industry and also performs well in non-molybdenum industries through capital and trade management of the molybdenum industry, supplemented by nonferrous metals-related industries. The overall goal is that by the end of 2020, the company's operating income shall reach RMB 30 billion and total profit RMB 500 million. Specific objectives include institutional reform objectives, industrial development objectives, management innovation objectives, scientific research innovation objectives, security and environmental protection objectives, development objectives of information technology and industrialization integration, and livelihood development objectives. Meanwhile, the Development Plan defines the responsibility units, development objectives, development ideas and methods for each industrial sector, capital management sector and trade management sector.